Las Vegas’ long-delayed north Strip resort has seen owners come, go and, in one case, return.
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A long-shuttered motel site on the Las Vegas Strip is getting a new owner: a North Dakota tribal nation that owns nearly 22 acres along the south edge of the famed resort corridor.
The developer said he owes approximately $25 million to $30 million for work on the resort, and that construction “will restart once the terms of the financing are finalized.”
The hotel-casino’s shopping district will span 90,000 square feet and feature around 35 “luxury retail concepts.”
Dream Las Vegas is estimated to cost around $550 million and slated to open in late 2024.
The towering north Strip hotel-casino will feature a pillarless ballroom spanning more than 105,000 square feet, one of the largest in Las Vegas.
After years of seeing big plans come and go, the north edge of Las Vegas’ famed casino corridor is showing more momentum than it has in years.
Observers have said the north Strip property could initially siphon guests from competitors but also boost tourism overall to Las Vegas.
UNLV’s Center for Business and Economic Research predicts that visitor volume in Southern Nevada will climb 57 percent this year and 13.2 percent next year, following its 55.2 percent drop in 2020.
The long-planned $4.3 billion property could bring more tourists to the north Strip and a surge of visitors overall to Las Vegas.
Travel spending, including on transportation, hotels and attractions, is projected to fall by $355 billion this year, the group said.
The former Fontainebleau — the blue-tinted tower that has blighted the Strip for a decade — is slated to open as the Drew in the second quarter of 2022.
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